GRND

MKT CAP:$2B

Grindr Inc.

Market Cap

$2B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$13.09-$0.22 (-1.69%)

Apr 23, 2026

Company Details

Grindr Inc. operates social network platform for the LGBTQ community. Its platform enables gay, bi, trans, and queer people to engage with each other, share content and experiences, and express themselves. It offers a free, ad-supported ser...

CEO

George Arison

IPO Date

Jan 14, 2021

Website

www.grindr.com

Key Metrics TTM

Revenue

$440M

+27.6% YoY

Net Income

$95M

EPS (Diluted)

$0.44

Free Cash Flow

$135M

Revenue / Share

$2.38

Gross Margin

74.2%

Operating Margin

28.7%

Net Margin

21.5%

FCF Margin

30.7%

P/S

5.7x

P/E

26.4x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 2, 2026

$440M+27.6%EPS $0.49

Q4 2025

Mar 2, 2026

$126M+29.0%EPS $0.11

Q3 2025

Nov 6, 2025

$116M+29.6%EPS $0.16

Q2 2025

Aug 8, 2025

$104M+26.6%EPS $0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$44M	$32M	$9M
Q2 22	$47M	$34M	-$2M
Q3 22	$50M	$37M	$4M
Q4 22	$55M	$40M	$2M
Q1 23	$56M	$41M	$9M
Q2 23	$62M	$45M	$14M
Q3 23	$70M	$52M	$17M
Q4 23	$72M	$54M	$16M
Q1 24	$75M	$56M	$19M
Q2 24	$82M	$61M	$25M
Q3 24	$89M	$66M	$28M
Q4 24	$98M	$74M	$20M
Q1 25	$94M	$69M	$25M
Q2 25	$104M	$77M	$24M
Q3 25	$116M	$87M	$45M
Q4 25	$126M	$93M	$31M

Valuation

Quarter	P/S	P/E
Q1 22	15.5x	170.1x
Q2 22	14.4x	290.8x
Q3 22	13.5x	1224.9x
Q4 22	12.8x	2931.5x
Q1 23	12.0x	—
Q2 23	11.2x	—
Q3 23	10.3x	—
Q4 23	9.6x	—
Q1 24	8.9x	—
Q2 24	8.3x	—
Q3 24	7.8x	—
Q4 24	7.2x	—
Q1 25	6.9x	—
Q2 25	6.5x	—
Q3 25	6.1x	—
Q4 25	5.7x	26.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$14M	$13M
Q2 22	$14M	$13M
Q3 22	$9M	$7M
Q4 22	$14M	$12M
Q1 23	$9M	$7M
Q2 23	$6M	$6M
Q3 23	$8M	$8M
Q4 23	$13M	$12M
Q1 24	$20M	$19M
Q2 24	$16M	$14M
Q3 24	$29M	$28M
Q4 24	$30M	$28M
Q1 25	$24M	$23M
Q2 25	$38M	$37M
Q3 25	$55M	$51M
Q4 25	$23M	$23M

Capital Expenditures

Quarter	CapEx
Q1 22	$1M
Q2 22	$145.6K
Q3 22	$2M
Q4 22	$2M
Q1 23	$1M
Q2 23	$62.7K
Q3 23	$144.9K
Q4 23	$738.4K
Q1 24	$1M
Q2 24	$2M
Q3 24	$1M
Q4 24	$1M
Q1 25	$628.0K
Q2 25	$192.0K
Q3 25	$4M
Q4 25	$217.2K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+33.9%	+73.2%
Q3 22	+31.8%	+47.7%
Q4 22	+21.1%	+50.3%
Q1 23	+28.2%	+35.9%
Q2 23	+32.2%	-2.0%
Q3 23	+39.4%	+15.4%
Q4 23	+32.2%	+7.0%
Q1 24	+35.0%	+18.8%
Q2 24	+33.8%	+21.4%
Q3 24	+27.1%	+13.5%
Q4 24	+35.4%	+38.6%
Q1 25	+24.7%	+22.2%
Q2 25	+26.6%	+38.2%
Q3 25	+29.6%	+15.7%
Q4 25	+29.0%	+22.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$734.0K	1.7%
Q2 22	$0	0.0%
Q3 22	$10M	19.2%
Q4 22	$5M	9.3%
Q1 23	$3M	6.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$5M	7.3%
Q1 24	$8M	10.4%
Q2 24	$8M	9.4%
Q3 24	$7M	7.9%
Q4 24	$15M	15.0%
Q1 25	$11M	11.7%
Q2 25	$17M	15.9%
Q3 25	$6M	5.2%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$4M	—	—	$10M
Q2 22	$4M	—	—	$23M
Q3 22	$4M	—	—	$20M
Q4 22	$7M	$10M	$3M	—
Q1 23	$6M	—	—	$19M
Q2 23	$6M	—	—	$17M
Q3 23	$13M	—	—	$16M
Q4 23	$8M	$23M	$2M	—
Q1 24	$6M	—	—	$27M
Q2 24	$8M	—	—	$25M
Q3 24	$9M	—	—	$25M
Q4 24	$14M	$29M	$8M	—
Q1 25	$10M	—	—	$30M
Q2 25	$13M	—	—	$36M
Q3 25	$11M	—	—	$29M
Q4 25	$15M	—	—	$47M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	—	40.7%	—
Q2 22	33.9%	15.1%	49.0
Q3 22	31.8%	25.2%	57.0
Q4 22	21.1%	36.8%	57.9
Q1 23	28.2%	2.9%	31.1
Q2 23	32.2%	47.7%	79.9
Q3 23	39.4%	26.4%	65.8
Q4 23	32.2%	42.6%	74.8
Q1 24	35.0%	6.1%	41.1
Q2 24	33.8%	-8.0%	25.9
Q3 24	27.1%	45.8%	72.9
Q4 24	35.4%	22.9%	58.3
Q1 25	24.7%	41.4%	66.1
Q2 25	26.6%	26.8%	53.4
Q3 25	29.6%	39.6%	69.2
Q4 25	29.0%	25.7%	54.8

Rule of 40

Revenue Segments

Quarter	Europe	North America	Other Countries	Advertising	License and Service
Q1 23	$4M	$33M	$18M	—	—
Q2 23	$5M	$36M	$21M	—	—
Q3 23	$6M	$40M	$24M	—	—
Q4 23	—	—	—	$10M	$62M
Q1 24	—	—	—	$11M	$64M
Q2 24	—	—	—	$12M	$70M
Q3 24	—	—	—	$12M	$77M
Q1 25	—	—	—	$14M	$80M
Q2 25	—	—	—	$17M	$87M
Q3 25	—	—	—	$19M	$96M

Revenue by Geography

Quarter	Europe	North America	Other Countries	Non-US	United States
Q1 23	$4M	$33M	$18M	—	—
Q2 23	$5M	$36M	$21M	—	—
Q3 23	$6M	$40M	$24M	—	—
Q4 23	$47M	$49M	-$24M	—	—
Q1 24	$18M	$46M	$12M	—	—
Q2 24	$20M	$50M	$13M	—	—
Q3 24	$23M	$53M	$13M	—	—
Q4 24	$23M	$60M	$15M	—	—
Q1 25	$21M	$58M	$15M	—	—
Q2 25	$24M	$63M	$17M	—	—
Q3 25	—	—	—	$50M	$66M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$28M	$0	$28M
Q2 22	$26M	$0	$26M
Q3 22	$27M	$0	$27M
Q4 22	$9M	$0	$9M
Q1 23	$34M	$0	$34M
Q2 23	$22M	$0	$22M
Q3 23	$30M	$0	$30M
Q4 23	$28M	$0	$28M
Q1 24	$22M	$0	$22M
Q2 24	$16M	$0	$16M
Q3 24	$39M	$0	$39M
Q4 24	$59M	$0	$59M
Q1 25	$256M	$0	$256M
Q2 25	$121M	$0	$121M
Q3 25	$6M	$0	$6M
Q4 25	$87M	$0	$87M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	153M	+343.1%	—
Q2 22	153M	0.0%	+343.1%
Q3 22	174M	+13.5%	+403.0%
Q4 22	174M	0.0%	+403.0%
Q1 23	174M	+0.0%	+13.6%
Q2 23	174M	+0.4%	+14.1%
Q3 23	174M	-0.2%	+0.3%
Q4 23	175M	+0.5%	+0.9%
Q1 24	176M	+0.3%	+1.1%
Q2 24	176M	+0.1%	+0.7%
Q3 24	180M	+2.4%	+3.4%
Q4 24	176M	-2.3%	+0.5%
Q1 25	201M	+14.3%	+14.5%
Q2 25	200M	-0.6%	+13.8%
Q3 25	193M	-3.6%	+7.0%
Q4 25	185M	-4.1%	+5.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$269.9K	202
Q1 23	$276.3K	202
Q2 23	$304.6K	202
Q3 23	$347.8K	202
Q4 23	$643.6K	112
Q1 24	$672.7K	112
Q2 24	$735.2K	112
Q3 24	$797.5K	112
Q4 24	$664.1K	147
Q1 25	$639.0K	147
Q2 25	$709.0K	147
Q3 25	$787.5K	147
Q4 25	$763.5K	165

Revenue / Employee